Lightroom 5 64-bit crashes during installation: "Error 1935: .."

When trying to install Lightroom 5 64-bit on laptop, the installation fails with the following dialog box error message. "Error 1935: An error occured during the installation of assembly component {6495B7C0-E0C8-3EA2-91AE-7640034EAFCE]. HRESULT: 0x800708BC9."